Proptech startup Crib has completed the acquisition of rent finance startup CirclePe. With this step, Crib strengthens its property management platform by adding fintech capabilities. CirclePe brings in a zero security deposit model along with cash advance options for operators under the Crib ecosystem.
The merger will support student housing, co living spaces, and PG operators by streamlining daily rent management and tenant credit lines within a single system. It also addresses cash flow challenges faced by building managers and urban tenants.
Crib-CirclePe Deal
Main reason of this deal is to remove upfront money problem in rent process. Property operator often faces cash issue because of late security deposit or empty room turnover, while tenant feel money pressure when shifting.
With CirclePe system, Crib handle finance of tenant security deposit or rent promise through NBFC partner. Credit line go first to property operator, and tenant pay back in monthly installment.
CirclePe was started by Navan Jaiswal and Ankur Yadav to give credit product for house rent market. The fintech raise about Rs 7.5 crore in pre-seed round, with value near Rs 35 crore. This money mainly come from OTP Ventures, with support from 1947 Rise, iSeed, IIT Delhi, Venture Catalysts, and another early investor. After this deal close, both companies will join and work on one tech system.
How Platforms Merge?
With this unified system, landlord can get big capital support based on tenant list, using new credit check model. For operator of student housing and shared stay, easy working capital help cover need like facility repair, security deposit, and expansion. This setup also cut payment default by replacing direct collection with regulated finance option.
A senior company officer says, “This deal adds credit finance directly into property management work. With this, tenant can skip upfront security deposit, and landlord get rent money on time. It solves cash flow problem that stop full use of shared stay property.”
This growth come at time when property operator faces tight margin in major city. The unified company plan to expand product across current market, using strong relation with finance partner to cut borrowing cost for long-term user on platform.
About Crib
Crib is a proptech platform founded by Sunny Garg, Shaifali Jain, and Archit Chauhan. It give software for co-living space, hostel, and PG in India. The platform helps more than 2,500 operators track occupancy, digital payment, resident data, and daily facility work. Crib has raised about $3.64 million in venture funding across seven rounds to build its technology.
